Services Sector in Malaysia
- The Services Sector assumes a pivotal role in spurring the economy, affecting all facets of a country's growth. In Malaysia, the services sector's contribution to GDP stands at around 58 per cent for 2011. In line with the aspiration to become a developed nation by 2020, the services sector's contribution to GDP is targeted to reach 65 per cent.
- Growth in this sector is gaining momentum and needs to be sustained through synergistic collaboration arrangements – bilaterally, regionally and multilaterally.
- For the economy to fully benefit from this synergy in global services trade, there must be seamless movement across borders where restrictions on trade should be reduced or removed and regulatory improvements that will provide competition and enhance efficiency, inspiring confidence in investors, the business community and consumers. Read more...